How To Fix FGL_PRE_CHECK017 - Currency types for FI and CO do not exist (Valuation Area &1)

SAP Error Message - Details

• Message type: E = Error

• Message class: FGL_PRE_CHECK - Pre Transition Check FI-GL

• Message number: 017

• Message text: Currency types for FI and CO do not exist (Valuation Area &1)

What causes this issue?

System could not determine currency and valuation types to be used by FI
and CO in valuation area &v1&.

System Response

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

How to fix this error?

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message FGL_PRE_CHECK017 - Currency types for FI and CO do not exist (Valuation Area &1) ?

  The SAP error message FGL_PRE_CHECK017 indicates that there is a problem with the currency types for Financial Accounting (FI) and Controlling (CO) in a specific valuation area. This error typically arises during the configuration or execution of financial processes, such as during the migration to a new system or when performing certain financial transactions.
  Cause:
  The error occurs when the system cannot find the required currency types for the specified valuation area. This can happen due to several reasons:
  
  Missing Configuration: The currency types for the valuation area have not been defined in the system.
  Incorrect Valuation Area: The valuation area specified in the error message may not be correctly set up or may not exist.
  Data Migration Issues: If you are migrating data from another system, the necessary currency type configurations may not have been transferred correctly.
  
  Solution:
  To resolve the error, you can follow these steps:
  
  
  Check Configuration:
  
  Go to the SAP Customizing Implementation Guide (SPRO).
  Navigate to Financial Accounting (FI) > General Ledger Accounting > Master Data > G/L Accounts > Preparation > Define Currency Types.
  Ensure that the required currency types (e.g., local currency, document currency, etc.) are defined for the relevant valuation area.
  
  
  
  Verify Valuation Area:
  
  Check if the valuation area mentioned in the error message exists and is correctly configured.
  You can find the valuation area settings under Controlling (CO) > Cost Element Accounting > Master Data > Cost Elements > Define Cost Elements.
  
  
  
  Check for Data Migration Issues:
  
  If you are migrating data, ensure that all necessary configurations and master data have been migrated correctly.
  Review the migration logs for any errors or warnings related to currency types.
  
  
  
  Consult Documentation:
  
  Refer to SAP documentation or help notes related to currency types and valuation areas for additional guidance.
  
  
  
  Testing:
  
  After making the necessary changes, test the transaction or process that triggered the error to ensure that it is resolved.
  
  
  
  Related Information:
  
  Currency Types: In SAP, currency types are used to define how different currencies are handled in financial transactions. Common currency types include:
  
  00: Local currency
  10: Document currency
  30: Index currency
  
  
  Valuation Areas: Valuation areas are used in SAP to define how different organizational units (like plants or company codes) manage their financial data. Each valuation area can have its own currency settings.
  
  If the issue persists after following these steps, it may be beneficial to consult with your SAP support team or refer to SAP Notes for more specific troubleshooting related to your system version and configuration.